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Indonesia PMI January 2020

Indonesia: Manufacturing PMI continues to signal worsening conditions in January

The manufacturing Purchasing Managers’ Index (PMI) released by IHS Markit decreased from 49.5 in December to 49.3 in January. As a result, the index remained below the 50-threshold that signifies deteriorating operating conditions for the seventh straight month, amid a subdued external backdrop.

January’s decline came amid a drop in new orders, a faster fall in new export orders and lower employment. Price pressures were muted; although input prices rose slightly, output prices fell at a near survey-record rate amid competition and weak demand.

Bernard Aw, principal economist at IHS Markit, commented:

“Longer-term expectations meanwhile remained positive, with the Future Output Index, a gauge of confidence, rising to the highest for eight months. However, this optimism could quickly fade if client demand deteriorates further in the coming months.”

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